- USDTHB: moving in the range 33.28-33.33 this morning supportive level at 33.20 resistance level at 33.45
- SET Index: 1,141.3 (+0.2%), 17 Apr 2025
- S&P 500 Index: 5,282.7 (+0.1%), 17 Apr 2025
- Thai 10-year government bond yield (interpolated): 1.933 (-2.03 bps), 17 Apr 2025
- US 10-year treasury yield: 4.34 (+5.0 bps), 17 Apr 2025
- Williams says the Fed doesn’t need to adjust rates soon
- Initial jobless claims dip and beat forecasts
- ECB cuts interest rates 25bps as market expected
- Japan’s March inflation rises as rice prices hit 50-year high
- Dollar bounces after Powell
Williams says the Fed doesn’t need to adjust rates soon
President Williams echoed Fed Chair Powell, saying the economy is strong and current monetary policy is appropriate, with no need for rate changes soon. He emphasized uncertainty around future policy but said his overall views haven’t changed. Tariffs will likely boost inflation and slow growth this year, so it’s important to monitor their impact and inflation expectations. While recent inflation data is encouraging, it’s still above target.
Initial jobless claims dip and beat forecasts
Initial jobless claims fell to 215K, below the 225K forecast, signaling continued labor market strength despite new tariffs from President Trump. The 4-week average dropped to 220.75K. However, continuing claims rose to 1.885M, above the 1.872M estimate.
ECB cuts interest rates 25bps as market expected
The European Central Bank cut interest rates for the seventh time since last June, responding to trade tensions that risk hindering the region’s economic rebound. The deposit rate was reduced by 0.25 percentage points to 2.25%. Notably, the ECB removed the term “restrictive” from its policy statement. In addition, the statement indicated growth rather than inflation risk concerns. This shift prompted markets to increase expectations for more rate cuts, as officials highlighted the economic challenges confronting Europe.
Japan’s March inflation rises as rice prices hit 50-year high
Japan’s CPI climbed in March, partly driven by a sharp rise in rice costs. This acceleration occurred despite the dampening effect of government utility subsidies. Core CPI, which excludes fresh food, increased by 3.2% year-over-year in March, up from 3% in February and in line with market forecasts. Inflation excluding both fresh food and energy rose 2.9%, also matching expectations and marking the fastest pace since last March. Inflation in Japan is likely to remain high in the near term, as businesses facing rising expenses—from labor shortages, increased material prices, and a weak yen—are more inclined to pass those costs on to consumers.
Dollar bounces after Powell
The 10-year government bond yield (interpolated) on the previous trading day was 1.933, -2.03 bps. The benchmark government bond yield (LB353A) was 1.928, -2.0 bps. Meantime, the latest closed US 10-year bond yields was 4.34, +5.0 bps. USDTHB on the previous trading day closed around 33.22, moving in a range of 33.28 – 33.33 this morning. USDTHB could be closed between 33.20 – 33.45 today. The dollar Index ticked up Thursday as markets digested Fed Chair Powell’s comments, which softened earlier dovish sentiment from Waller. Gains were supported by Trump’s optimism on trade deals with the EU and China. Meanwhile, economic data had minimal impact. With markets closed for Good Friday and limited data next week, trade developments will remain the key focus. The euro saw choppy trading after the ECB delivered a widely anticipated 25bps rate cut. The central bank’s statement dropped earlier references to policy being restrictive, with some policymakers already viewing a June cut as likely. The yen weakened as U.S. long-term yields rose ahead of Japan’s CPI.
Sources : ttb analytics , Bloomberg, CNBC, Trading economics, Investing, CEIC
